Generic Drugs Lower Prices

TRENTON, N.J. (AP) — A surge of new, inexpensive generic versions of widely used drugs for chronic conditions is seen as partially responsible for a drop in spending on prescription medicines in the U.S. last year. The other reason is that cash-strapped consumers continued to cut back on or delay needed doctor visits, medicines and other treatments. The drop reported by the IMS Institute for Healthcare Informatics was the first in more than five decades.